Multipole cylindrical permanent magnets are used in numerous applications including magnetic encoders, rotary actuators, magnetic gears, and stepper motors. The mass fabrication of such magnets is a two step process. First, the magnets are formed into the desired shape from bulk unmagnetized permanent magnet material. Second, once the magnets are in the desired shape, they are magnetized. The prior art magnetizers typically comprise a high voltage capacitor bank, a high current switch and a magnetizing fixture. To magnetize the magnet, the capacitor back is charged and the magnet is placed in the magnetizing fixture. Once the capacitor bank is charged to a desired level, the switch is activated discharging the capacitor bank into the magnetizing fixture. Conventional magnetizing fixtures are made by threading standard gauge wire through holes in a block of phenolic or other suitable insulating material. The threading of the wire through the holes is done in a serpentine pattern so as to create the desired pole pattern in the magnet when a current pulse (i.e., 50 to 100 microseconds of high current 10,000 to 50,000 amps) flows through the fixture wires. A significant drawback of these prior art magnetizers is that substantial electrical energy is dissipated in the mass magnetization of magnets. Also, considerable time is required to charge the capacitor bank prior to each magnetization cycle and this limits the magnetization throughput.